SBSI vs SSB: Correlation
Measured on weekly returns over the past three years, Southside Bancshares, Inc. (SBSI) and SouthState Bank Corporation (SSB) carry a correlation of 0.86, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SBSI and SSB?
On 3 years of weekly data the SBSI/SSB correlation comes out at 0.86, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.76 over 1 year against 0.86 over 3. The 5-year figure is 0.76, and annualized covariance runs at 604.9 %².
Within SBSI's tracked universe of 20 assets, SSB comes in at #4 by 3-year correlation. Their 12-month results are close: +6.4% for SBSI against +6.8% for SSB.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
SBSI vs SSB: side by side
| SBSI (Southside Bancshares, Inc.) | SSB (SouthState Bank Corporation) | |
|---|---|---|
| 1-year return | +6.4% | +6.8% |
| 5-year return | +7.0% | +76.5% |
| Volatility (ann.) | 24.6% | 28.6% |
| Beta vs S&P 500 | 0.59 | 0.95 |
| Max drawdown (3Y) | -27.3% | -27.6% |
| Market cap | $1.0B | $10.3B |
| P/E (trailing) | 12.6 | 11.2 |
| Dividend yield | 4.49% | 2.26% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SBSI | SSB |
|---|---|---|
| 2022 | -10.8% | -2.4% |
| 2023 | -8.9% | +13.8% |
| 2024 | +6.3% | +20.7% |
| 2025 | +0.5% | -3.1% |
| 2026 | +8.5% | +14.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SBSI and SSB good diversifiers for each other?
No. With a correlation of 0.86, SBSI and SSB move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between SBSI and SSB?
The SBSI/SSB correlation stands at 0.86 on a 3-year window (1 year: 0.76, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is SSB a good diversifier for SBSI?
No. With a correlation of 0.86, SBSI and SSB move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.86 mean?
On the −1 to +1 scale, 0.86 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: SBSI correlations · SSB correlations
